Investing.com – It’s not that long ago that payment service provider Nium, founded in 2014, joined the RippleNet, and yet the company can already report its first successes. Co-founder Prajit Nanu said of this:
“By using for the Philippines and Mexico payment corridors, we were able to eliminate the need for pre-funding and offer faster transfers at a lower cost.”
Thus, Nium is further proof of the effectiveness of payment services developed by Ripple Labs. Nium took advantage of this success to further develop its activities. A partnership with the network will in the future make it possible to offer money transfers in 190 countries.
This association will be beneficial for both parties. While Nium customers will now have access to the Stellar network, Stellar customers will have access to RippleNet through the developed API.
The two partners will thus have the possibility of opening up to new markets by using the Fiat On/Off ramps. Stellar CEO Denelle Dixon said declared :
“At SDF, we are always striving to penetrate new parts of the world and expand the network. We are very pleased to be able, together with Nium, to extend the reach of the Stellar network so significantly.”
Ripple price technical benchmarks
Ripple continues to trend sideways above the psychologically important $0.30 threshold. Investors here are eagerly awaiting the continuation of the legal process with the SEC.
The 23.6 percent Fibo retracement at $0.3219 offered good support for several days. However, if the negative sentiment intensifies and a daily close price breaks below, expect a test of the cycle low at $0.2875.
On the other side, the 38.2 percent Fibo retracement at $0.3432 offers the next resistance. If this falls on the daily close, the upside move can be extended towards the 50 percent and 61.8 percent Fibo retracements of $0.3604 and $0.3776.
By Marco Oehrl